[kictanet] Vodafone snubs Libra in favour of growing M-Pesa digital money

[Willis Muriu]

For me, the one major issue was that it was "controlled" by Facebook
(centralized) unlike Bitcoin (decentralized.)

Another reason, I think, is because it proved to be serious competition to
the Dollar, and you have heard what happens when you challenge the Dollar.

Regards,
Willis Muriu
+254 715 530 349

On Thu, Jan 23, 2020 at 6:37 PM Ali Hussein via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> Interesting...Most of the incumbent players are one by one abandoning
> Libra. What gives? Pressure from regulators?
>
> Here
> <https://www.forbes.com/sites/sergeiklebnikov/2019/10/21/here-are-all-the-companies-that-bailed-on-facebooks-libra/#674681de3487>
> are some of the other companies that have bailed out on Libra. The list
> includes Visa, Mastercard, Stripe, Mercado Pago and eBay.
>
> Pressure from regulators and policy makers is real.
>
> Regards
>
> *Ali Hussein*
>
>
> Tel: +254 713 601113
>
> Twitter: @AliHKassim
>
> Skype: abu-jomo
>
> LinkedIn: http://ke.linkedin.com/in/alihkassim
> <http://ke.linkedin.com/in/alihkassim>
>
>
>
>
> Any information of a personal nature expressed in this email are purely
> mine and do not necessarily reflect the official positions of the
> organizations that I work with.
>
>
> On Thu, Jan 23, 2020 at 4:10 PM Mwendwa Kivuva via kictanet <
> kictanet at lists.kictanet.or.ke> wrote:
>
>> Vodafone has withdrawn from Facebook’s digital currency initiative Libra,
>> as regulators and bureaucrats circle overhead.
>>
>> While Facebook might have become accustomed to sitting in the regulatory
>> spotlight, it seems other companies are not as accepting of the attention.
>> In an increasing tsunami of regulatory scrutiny, Vodafone has become the
>> latest company to withdraw from the Libra initiative, joining the likes of
>> Paypal and Mastercard.
>>
>> “Vodafone Group has decided to withdraw from the Libra Association,” a
>> Vodafone spokesperson said.
>>
>> “We have said from the outset that Vodafone’s desire is to make a genuine
>> contribution to extending financial inclusion. We remain fully committed to
>> that goal and feel that we can make the most contribution by focusing our
>> efforts on M-Pesa. We will continue to monitor the development of the Libra
>> Association and do not rule out the possibility of future co-operation.”
>>
>>
>> https://telecoms.com/501960/vodafone-snubs-libra-in-favour-of-m-pesa/
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> for people and institutions interested and involved in ICT policy and
> regulation. The network aims to act as a catalyst for reform in the ICT
> sector in support of the national aim of ICT enabled growth and development.
>
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